As a member of the Institute of Asset Management (IAM), PEP is committed to utilising asset management “best practice” in the work that it does, and in doing so spread its use throughout the industry.
Asset management is an approach designed to get the best out of assets, for the benefit of the owner, the organisation and its stakeholders. It is a mind-set which views physical assets not as unchanging objects and systems, but as entities that have a lifecycle – meaning that they respond to their environment, and change behaviour over time.
The focus of quality asset management should be to understand and control these changes, whilst managing risks, to arrive at a solution that optimises the benefits.
This approach can help to:
- Increase revenue by improving operating performance – and hence maximise returns
- Reduce wastage by decreasing operating costs – and hence maximise returns
- Minimise health, safety and environmental risks and ensure that the Owner’s obligations toward the operating asset are met
- Minimise legal risks and ensure regulatory compliance of the organisation – and hence promote reputation
PEP can help an organisation to determine the best blend of activities to undertake to achieve a balance of the above benefits.
For a wind asset, the starting point to do this is to understand how an asset has performed to date and benchmark this performance against similar assets. PEP has created a specialist product to do this, called a Rapid Health Check, which takes the form of a concise economic report, based on technical analysis of hard data recorded by the asset itself.
For more information please contact us.